Stricter laws and regulations to protect intellectual property rights
A) will tend to have little impact on an economy since intellectual property is not tangible.
B) will create a stronger and more successful black market for intellectual property.
C) will help to create a more successful market system.
D) will only benefit those companies whose intellectual property rights have in the past been ignored.
C
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The above figure shows the market for steel ingots. An externality can be seen because
A) the social marginal cost exceeds the private marginal cost. B) the private marginal cost exceeds the social marginal cost. C) the optimal quantity of steel is zero. D) not enough steel gets produced by the competitive market.
If consumption spending is greater than national income,
a. saving is positive b. dissaving occurs c. saving is exactly zero d. a depression results e. investment is greater than saving
Monopoly is a market structure with
a. no entry of new firms b. difficult entry of new firms c. easy entry of new firms d. only a few close substitute goods in the industry e. mutual interdependence among firms
A vertical line showing the economy's potential is called the:
A. aggregate demand curve. B. long-run aggregate supply line. C. short-run aggregate supply line. D. short-run equilibrium output line.